IVA Spending Restrictions: What You Need to Know
Write off up to 81% of your debt – Check if you qualify Understanding IVA If you are struggling with debt, an Individual Voluntary Arrangement (IVA) may be a debt solution worth considering. An IVA is a legally binding agreement between you and your creditors, which is managed by an Insolvency Practitioner (IP). It […]
What is undischarged bankrupt?
Bankruptcy can be a lifeline to many people struggling with unmanageable debt. It gives debtors a chance to wipe the slate clean and an opportunity to start again. But that’s not to say it’s without risks. The bankruptcy process can be complex, and many people are unaware of what it involves or the implications of […]
What is a Certificate of Satisfaction: Definition and Uses
A Certificate of Satisfaction is a legal document that confirms a debt has been paid in full. It is often used in the context of a mortgage or loan agreement. If you have recently paid off a debt, you may be wondering if you need a Certificate of Satisfaction and how to obtain one. In […]
Can I get car finance with an IVA?
If you’ve entered into an IVA (Individual Voluntary Arrangement), you may be wondering if it will affect any applications you make for car finance. While an IVA can be an important lifeline for many, it does make accessing other lines of credit challenging, even after you’ve paid it off. However, that isn’t to say […]
The IVA Register – All you need to know!
You may have thought about entering into an Individual Voluntary Arrangement (IVA) after your debts have begun piling up and payments have started being missed. An IVA is an excellent way to sort out mounting debts – it freezes them and lets you pay them back at a rate you can afford over a longer […]
Can I get a loan with an IVA?
When you enter an Individual Voluntary Arrangement, also known as an IVA, you must adhere to certain rules when it comes taking out further credit such as credit cards or loans. An IVA is a formal agreement between you and the people you owe money to, known as creditors, that allows you to repay a […]
Can I get a joint mortgage with an IVA?
An Individual Voluntary Arrangement takes up the vast majority of a person’s disposable income, so it’s no surprise that people with an IVA may wonder whether it’s possible for them to get a mortgage with their partner during an IVA. This is known as a joint mortgage. In this article we’ll explore IVAs and joint […]
What happens when you hide money from an IVA
As a legally binding agreement between you and your creditors, it’s important that you declare all of your income if you choose to use an Individual Voluntary Arrangement to repay your debts. Hiding money from IVAs can lead to serious consequences. In this guide we’ll explore the idea of hiding money from an IVA, […]
IVA pros and cons
An Individual Voluntary Arrangement is the most popular debt solution available in the UK and has helped hundreds of thousands of thousands of people manage their unaffordable debt. Like all debt solutions, however, there are advantages and disadvantages of using an IVA to deal with your debts. Below, we outline your IVA pros and cons. […]
Do I need to declare an IVA after 6 years to get a mortgage?
An Individual Voluntary Arrangement (IVA) can help you repay your debts through affordable, monthly payments but it can also make it difficult to get a mortgage. This is because, when assessing your mortgage application, mortgage lenders will check your credit history for evidence of a debt solution. If they find an active or past IVA, […]
